https://www.scmp.com/rss/522976/feed The latest news and top stories on Lisa Cook, a US Federal Reserve Governor. She was appointed to the Fed Board in 2022, becoming the first African American woman to hold the position. Her background includes professorships at Michigan State and Harvard Universities, and roles as a senior economist for President Obama's Council of Economic Advisers and at the US Treasury. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Agence France-Presse Agence France-Presse The US Federal Reserve held interest rates steady on Wednesday at its first policy gathering this year, citing robust economic growth, as the central bank resists President US Donald Trump’s mounting pressure for cuts. The Fed’s 10-2 vote maintains rates at a range between 3.50 per cent and 3.75 per cent, an outcome that was widely expected as officials await more data on the world’s biggest economy. In a statement on its decision, policymakers flagged that economic activity has been “expanding... https://www.scmp.com/news/world/united-states-canada/article/3341596/us-federal-reserve-holds-interest-rates-steady-defying-trump-pressure?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3341596/us-federal-reserve-holds-interest-rates-steady-defying-trump-pressure?utm_source=rss_feed Wed, 28 Jan 2026 19:23:17 +0000 Bloomberg Bloomberg US President Donald Trump teased that he has a preferred candidate to be the next head of the Federal Reserve but is in no hurry to make an announcement while also musing that he might fire the central bank’s current leader, Jerome Powell. “I do, still do – hasn’t changed,” Trump said at a press conference on Monday, when asked if he has a favourite candidate. “I'll announce him at the right time. There’s plenty of time.” Trump added that Powell “should resign” and that he would “love to fire... https://www.scmp.com/news/world/united-states-canada/article/3338083/trump-says-he-still-might-fire-powell-federal-reserve-chief-teasing-preferred-pick?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3338083/trump-says-he-still-might-fire-powell-federal-reserve-chief-teasing-preferred-pick?utm_source=rss_feed Mon, 29 Dec 2025 23:38:50 +0000 Frank Tang Frank Tang The US central bank announced on Wednesday it would slash the benchmark interest rate by a quarter of a percentage point, though this year’s third cut has long been criticised by President Donald Trump as too late and too little. The cut decision made by the Federal Open Market Committee (FOMC), the monetary-policy organ affiliated to the Federal Reserve, was broadly in line with market expectations, but fell short of Trump’s demand of a larger cut. The benchmark interest rate after the... https://www.scmp.com/news/us/economy-trade-business/article/3335968/us-fed-delivers-quarter-point-rate-cut-trump-renews-pressure-central-bank?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3335968/us-fed-delivers-quarter-point-rate-cut-trump-renews-pressure-central-bank?utm_source=rss_feed Wed, 10 Dec 2025 19:09:51 +0000 Frank Tang Frank Tang The prolonged US federal government shutdown has been affecting the release of key data that policymakers need to assess the trade war’s effects and gauge price and labour market trends, further complicating ongoing rate decision disputes between US President Donald Trump and the Federal Reserve. Speaking at the Brookings Institution on Monday, US Federal Reserve Governor Lisa Cook joined other colleagues to warn how the lack of government data has challenged their decision-making at the US... https://www.scmp.com/news/us/diplomacy/article/3331545/us-government-shutdown-stops-flow-key-economic-data-latest-impact-trumps-tariffs?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3331545/us-government-shutdown-stops-flow-key-economic-data-latest-impact-trumps-tariffs?utm_source=rss_feed Tue, 04 Nov 2025 19:26:53 +0000 Zhang Shidong,Yulu Ao Zhang Shidong,Yulu Ao Hong Kong stocks on Tuesday extended a loss following a summit that de-escalated China-US tensions as the market reassessed earlier optimism and grew wary of frothy valuations of artificial intelligence-linked shares. The Hang Seng Index fell 0.8 per cent to 25,952.40 at the close, taking the decline to 1.5 per cent since a meeting between Chinese President Xi Jinping and US leader Donald Trump last week. Trading was choppy, with the benchmark wiping out a 0.5 per cent gain on the day triggered... https://www.scmp.com/business/china-business/article/3331410/hong-kong-stocks-advance-amazon-openai-tech-alliance-despite-fed-uncertainty?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331410/hong-kong-stocks-advance-amazon-openai-tech-alliance-despite-fed-uncertainty?utm_source=rss_feed Tue, 04 Nov 2025 02:32:16 +0000 Reuters Reuters New York Attorney General Letitia James, a long-time foe of US President Donald Trump, was indicted for bank fraud on Thursday, a person familiar with the matter said, as the administration seeks to use government power against those who have pursued investigations into him or publicly resisted his agenda. The details of the indictment, returned by a grand jury in the Eastern District of Virginia, were not immediately clear. The US Justice Department has been probing mortgage fraud allegations... https://www.scmp.com/news/world/united-states-canada/article/3328441/letitia-james-ny-attorney-general-and-trump-foe-indicted-bank-fraud?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3328441/letitia-james-ny-attorney-general-and-trump-foe-indicted-bank-fraud?utm_source=rss_feed Thu, 09 Oct 2025 21:21:11 +0000 Reuters Reuters The US Supreme Court said on Wednesday it will hear arguments in January over Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook, leaving her in the post for now and teeing up a major legal battle over the first-ever bid by a president to fire a Fed official as he challenges the central bank’s independence. The justices declined to immediately decide a Justice Department request to put on hold a judge’s order temporarily blocking the Republican president from removing Cook, an... https://www.scmp.com/news/world/united-states-canada/article/3327554/us-supreme-court-bars-trump-immediately-firing-fed-governor-lisa-cook?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3327554/us-supreme-court-bars-trump-immediately-firing-fed-governor-lisa-cook?utm_source=rss_feed Wed, 01 Oct 2025 16:01:11 +0000 Reuters Reuters US President Donald Trump’s administration asked the US Supreme Court on Thursday to let him move ahead with firing Federal Reserve Governor Lisa Cook – a move without precedent since the central bank’s founding in 1913 – in a legal battle that imperils the Fed’s independence. The Justice Department asked the justices to lift US District Judge Jia Cobb’s September 9 order temporarily blocking the Republican president from removing Cook, an appointee of Democratic former US president Joe... https://www.scmp.com/news/world/united-states-canada/article/3326046/trump-asks-us-supreme-court-allow-firing-fed-governor-lisa-cook?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3326046/trump-asks-us-supreme-court-allow-firing-fed-governor-lisa-cook?utm_source=rss_feed Thu, 18 Sep 2025 17:35:26 +0000 Frank Chen Frank Chen The US Federal Reserve has announced that it will cut interest rates by a quarter of 1 percentage point in a widely anticipated move. The US central bank also expects two more quarter-point cuts this year. The cut puts the target range for its main lending rate at 4 to 4.25 per cent. Still, market stakeholders are watching the Fed’s next moves and their timing. The announcement of the first cut this year, made on Wednesday, comes amid slower job gains and rising inflation risks as well as... https://www.scmp.com/news/us/economy-trade-business/article/3325921/us-federal-reserve-makes-first-rate-cut-2025-employment-risks?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3325921/us-federal-reserve-makes-first-rate-cut-2025-employment-risks?utm_source=rss_feed Wed, 17 Sep 2025 18:19:04 +0000 Associated Press Associated Press US President Donald Trump’s administration renewed its request on Sunday for a federal appeal court to let him fire Lisa Cook from the Federal Reserve’s board of governors, a move the president is seeking ahead of the central bank’s vote on interest rates. The Trump administration filed a response just ahead of a Sunday deadline to the US Court of Appeals for the District of Columbia, arguing that Cook’s legal arguments for why she should stay in the job were meritless. Lawyers for Cook argued... https://www.scmp.com/news/world/united-states-canada/article/3325518/trump-administration-renews-push-fire-fed-governor-lisa-cook-ahead-key-vote?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3325518/trump-administration-renews-push-fire-fed-governor-lisa-cook-ahead-key-vote?utm_source=rss_feed Sun, 14 Sep 2025 20:28:57 +0000 Associated Press Associated Press US employers added just 22,000 jobs last month as the labour market continued to cool under uncertainty over President Donald Trump’s economic policies. The Labor Department said on Friday that hiring decelerated from 79,000 in July and came in below the roughly 80,000 economists had expected for August. The unemployment rate ticked up to 4.3 per cent, also worse than expected and the highest level since 2021, the Labor Department reported on Friday. When the department put out a disappointing... https://www.scmp.com/news/world/united-states-canada/article/3324561/hiring-stalls-us-firms-hold-back-expansion-amid-economic-uncertainty?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3324561/hiring-stalls-us-firms-hold-back-expansion-amid-economic-uncertainty?utm_source=rss_feed Fri, 05 Sep 2025 13:40:45 +0000 Reuters Reuters The US Justice Department has launched a criminal mortgage fraud probe into Federal Reserve Governor Lisa Cook and has issued grand jury subpoenas out of both Georgia and Michigan, according to documents seen by Reuters and a source familiar with the matter. The investigation, which followed a criminal referral from Federal Housing Finance Agency Director Bill Pulte, is being conducted by Ed Martin, who was tapped by Attorney General Pam Bondi as a special assistant US attorney to assist with... https://www.scmp.com/news/world/united-states-canada/article/3324397/trump-admin-opens-criminal-mortgage-fraud-probe-fed-governor-lisa-cook?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3324397/trump-admin-opens-criminal-mortgage-fraud-probe-fed-governor-lisa-cook?utm_source=rss_feed Thu, 04 Sep 2025 19:13:43 +0000 Bloomberg Bloomberg Gold held just below a record high and silver traded above US$40 an ounce, as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multi-year rally in precious metals. Spot silver steadied after surging as much as 2.7 per cent on Monday to breach US$40 an ounce for the first time since 2011, while gold held a 0.8 per cent gain to trade just below its April record above US$3,500 an ounce. The latest run has been underpinned by... https://www.scmp.com/business/commodities/article/3323990/gold-and-silver-surge-rising-demand-and-looming-fed-rate-cut?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3323990/gold-and-silver-surge-rising-demand-and-looming-fed-rate-cut?utm_source=rss_feed Tue, 02 Sep 2025 03:21:41 +0000 SCMP Editorial SCMP Editorial Central bank independence may sound like an academic subject. But for Hong Kong, thanks to the US dollar peg, the effect of the US Federal Reserve’s independence can be very real, especially if it is being eroded. Where the US dollar lands, there goes the Hong Kong dollar. Donald Trump’s repeated criticisms of Fed chairman Jerome Powell, including threats to fire him, have called into question the long-standing independence of the world’s most powerful central bank. In an unprecedented move, the... https://www.scmp.com/opinion/comment/article/3323758/erosion-us-fed-independence-worry-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3323758/erosion-us-fed-independence-worry-hong-kong?utm_source=rss_feed Sun, 31 Aug 2025 23:15:14 +0000 Reuters Reuters Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday claiming US President Donald Trump has no power to remove her from office, setting up a legal battle that could reset long-established norms for the US central bank’s independence. Cook’s lawsuit said Trump violated a federal law allowing him to remove a Fed governor only “for cause” when the Republican president took the unprecedented step on August 25 of announcing he would fire her. Trump has accused Cook of committing mortgage... https://www.scmp.com/news/world/united-states-canada/article/3323550/trump-sued-feds-lisa-cook-over-removal-sparking-independence-fight?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3323550/trump-sued-feds-lisa-cook-over-removal-sparking-independence-fight?utm_source=rss_feed Thu, 28 Aug 2025 15:04:04 +0000 Bloomberg Bloomberg US President Donald Trump said that philanthropist George Soros and his son should be charged with racketeering for allegedly supporting violent protests “and much more”, without citing any evidence. Trump made the remark Wednesday in a social media post that did not elaborate on whether Soros was being investigated, or specify which protests or which son he was referring to. Alex Soros, one of the billionaire’s sons, chairs the board of directors of the Open Society Foundations, which was... https://www.scmp.com/news/world/united-states-canada/article/3323429/trump-calls-george-soros-and-son-be-charged-over-violent-protests?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3323429/trump-calls-george-soros-and-son-be-charged-over-violent-protests?utm_source=rss_feed Thu, 28 Aug 2025 03:44:54 +0000 Reuters Reuters Federal Reserve Governor Lisa Cook will file a lawsuit to prevent US President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House’s effort to shape US monetary policy. “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Cook’s lawyer, prominent Washington lawyer Abbe Lowell,... https://www.scmp.com/news/world/united-states-canada/article/3323251/us-fed-governor-lisa-cook-sue-trump-saying-he-cannot-legally-fire-her?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3323251/us-fed-governor-lisa-cook-sue-trump-saying-he-cannot-legally-fire-her?utm_source=rss_feed Tue, 26 Aug 2025 17:03:26 +0000 Bloomberg Bloomberg The US Justice Department signalled possible plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her from the board in a letter sent on Thursday. Ed Martin, a Justice Department official who has led similar investigations into Senator Adam Schiff of California and New York Attorney General Letitia James, told Federal Reserve Chair Jerome Powell that Cook’s case “requires further... https://www.scmp.com/news/world/united-states-canada/article/3322713/us-justice-department-investigate-federal-reserves-lisa-cook-urges-her-removal?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3322713/us-justice-department-investigate-federal-reserves-lisa-cook-urges-her-removal?utm_source=rss_feed Thu, 21 Aug 2025 18:03:43 +0000